Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bybit against BingX−0.062%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.088%−$9 on $10k

Price spread, last 7 days+0.060%+$6 · spread now −0.062%, 7d avg −0.013%

Together, before fees−0.028%−$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.049% cheaper against BingX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ENA-USDT	0.2091	0.0100	pay 0.0050% / 4h	2h 13m	—	$32.0M	—
Short	Bybit ENAUSDT	0.2090	0.0100	get 0.0050% / 4h	2h 13m	$87.2M	$193.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BingXbpFee BybitbpOrdersPrice spread, now −0.062%Rate

Funding earned: $0
Price spread: −0.062% → −0.013%: −$4.9
Slippage, 4 orders: −$11.28
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$37.18
Costs to cover: 0.323%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Bybit: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BingX live order book, 10 min ago	0.95 bp	6.5 bp −$6	7.3 bp −$73	10.5 bp −$1,051	21.6 bp −$10.8K
Sell Bybit live order book, 6 min ago	0.24 bp	11.3 bp −$11	18.8 bp −$188	56.5 bp −$5,650	doesn't fit

ENA on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack ENA_USDC_PERP	−0.0280%	1h	0.2094	+0.163%	$360K	$484K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0083%	4h	0.2091	0.000%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2091	+0.005%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2092	+0.024%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2091	+0.019%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.549%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0058%	4h	0.2091	−0.024%	$10.4M	$21.7M	50x	as long as short
Phoenix ENA	+0.0076%	1h	0.2094	+0.167%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2090	−0.048%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2091	−0.019%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2091	+0.014%	$656K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2093	+0.101%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2092	+0.050%	$405K	$593K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2091	−0.019%	$128.9M	$465.5M	75x	as long as short
Bybit ENAUSDTshort	+0.0100%	4h	0.2090	−0.062%	$87.2M	$193.4M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2091	−0.014%	$20.2M	$113.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2100	+0.450%	$19K	$424K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2092	+0.048%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	+0.765%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2091	−0.024%	$45.8M	$49.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2092	+0.067%	$24.2M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2090	−0.043%	$47.3M	$66.1M	75x	as long as short
BingX ENA-USDTlong	+0.0100%	4h	0.2091	long leg	—	$32.0M	—
Variational Omni ENA	+0.0100%	4h	0.2096	+0.261%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2098	+0.316%	$249K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2100	+0.413%	$351K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2098	+0.335%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2091	+0.019%	$182K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2040	−2.429%	$925	$809K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2091	0.000%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2096	+0.234%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2091	0.000%	$1.9M	$9.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2092	+0.044%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2092	+0.030%	$2.6M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0176%	1h	0.2090	−0.050%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0214% / S −0.0163%	1h	0.2091	+0.010%	$50K	—	100x	as long as short
Lighter ENA	+0.0312%	1h	0.2094	+0.129%	$5.6M	$13.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2091	+0.014%	$5.5M	$8.1M	75x	as long as short
Hyperliquid ENA	+0.0350%	1h	0.2094	+0.120%	$110.4M	$80.8M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2090	−0.047%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2103	+0.574%	$805K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.5658%	1h	0.2094	+0.164%	$138K	$15K	5x	as long as short